Corporate
Outlook: Observation
Action date: 07/03/2020
Rating action: Affirmed

EMPRESA NAVIERA ELCANO SA

Naviera Elcano is a Spanish group engaged in the international maritime transport of raw materials in bulk. They have more than 77 in the sector and maintains subsidiaries in Brazil and Argentina. During 2019 reached a turnover of $1,036M (+26.3%), maintaining the growth that accompanies the increase in the fleet, the greater amount of cargo, and the positive performance of its activity. Similarly, its debt situation has evolved appropriately, with the reduction of the NFD/EBITDA ratio to 3.54x.

Rating

Solicited
Date last rating: 07/03/2020
Date first rating: 06/20/2016